All Forum Posts by: Parker Cox

@Chris Ghemm Welcome, you have definitely come to the right place.  I am right by you in San Diego (La Mesa) if there is anyway I can be of service don't hesitate to ask.  

@Lane A. that as long as your smart, the money should still be there in a few years. And in the meantime, spend free time on here, read and learn all that you can, start to attend REIA events in your local area or many local areas and try and get your "hands" dirty following a mentor when you can.

Pretend your starting investing with no money and no time, and learn the business from the ground up.  I believe that if you act like your backs to the wall financially, and the first deal will make or break your dreams, like so many others on here, if your educated, focused and driven, you will be wildly successful and then you will have the finances to accelerate faster than many others.  

All the best.

@Account Closed I bet you have this all squared away.  but those prices seem right, but your coverage seems really low.  The cost difference between 300k and 1mil on liability is nearly negligible and 300k doesn't go very far.  In terms of EQ and Flood.  They are standard exclusions, but they are also relatively affordable.  Sac seems to be relatively EQ proof and if your not in a flood zone, then your probably ok.  But a quote could be worth checking into.  If you ever have any questions feel free to reach out.  

@Mike Goodrich The price is variable (obviously) based on dwelling amount (cost to rebuild the physical structure(s), amount of rehab, deductibles, and company and coverages.  Also, likely you will want to avoid a policy that is "paid in full" they will all have a minimum earned amount, but after that they should be pro-rated based on the length of time you own the property.  But, to give you an idea: a 300k dwelling amount with 50k in rehab should be running you b/t 1800-and 2500 annually.  

Everyone, feel free to reach out to me with any questions.  I will be happy to help any way I can.

@Andrew Wong GC.  but its a relatively small job.

@Ivonne Valdes when googling I am pulling up a few in san jose.  Can you send me on his contact info?

@Manuel Sarabia There are quite a few options here.  Many companies offer unoccupied/vacant dwelling policies, but there are a far less superior product compared to a "flipper-specific policy" NREI as suggested by Richard is a common carrier, but there are a few others that tend to be a better product at a better price.  feel free to PM me if you are interested in discussing options.  I insure hundreds of flips in San Diego and would be happy to give you any advice you may need.  

Best of Luck

I need a good contractor for relatively small rehab in south san jose.  But, if the job is well done, we have more business available as well.  

Any suggestions?

@Lisa Misuraca There are a lot of options beyond what your current agent has given you.  Chances are he is unexperienced in working with real estate investors.  Without experience in this industry and the right carriers, policies do become basically useless unfortunately.  

I work with some investors in Arizona and we have a carrier that has a flipper-specific policy.  

Feel free to private message me if you would like to discuss options.